Charles Schwab Investment Management Inc. Has $37.54 Million Stock Position in Preferred Bank (NASDAQ:PFBC)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Preferred Bank (NASDAQ:PFBC) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 434,590 shares of the bank’s stock after acquiring an additional 18,868 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 3.01% of Preferred Bank worth $37,540,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PFBC. Smartleaf Asset Management LLC raised its position in shares of Preferred Bank by 217.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 562 shares of the bank’s stock valued at $49,000 after purchasing an additional 385 shares during the period. Fisher Asset Management LLC acquired a new position in Preferred Bank in the fourth quarter worth about $843,000. Denali Advisors LLC bought a new stake in Preferred Bank in the fourth quarter valued at $674,000. New York State Common Retirement Fund increased its position in shares of Preferred Bank by 15.5% during the 4th quarter. New York State Common Retirement Fund now owns 26,222 shares of the bank’s stock worth $2,265,000 after purchasing an additional 3,516 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Preferred Bank by 4.3% in the 4th quarter. Principal Financial Group Inc. now owns 70,530 shares of the bank’s stock worth $6,092,000 after acquiring an additional 2,884 shares in the last quarter. 72.77% of the stock is currently owned by institutional investors and hedge funds.

Preferred Bank Stock Performance

Shares of NASDAQ PFBC opened at $83.16 on Friday. The stock has a market capitalization of $1.20 billion, a PE ratio of 8.64 and a beta of 0.93. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.08. Preferred Bank has a 52 week low of $70.22 and a 52 week high of $99.78. The stock has a 50 day moving average price of $87.25 and a 200 day moving average price of $86.57.

Preferred Bank (NASDAQ:PFBC) last posted its quarterly earnings results on Monday, January 27th. The bank reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.17). Preferred Bank had a return on equity of 17.80% and a net margin of 25.00%. Analysts predict that Preferred Bank will post 9.81 earnings per share for the current fiscal year.

Preferred Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 23rd. Shareholders of record on Thursday, January 9th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, January 10th. This is an increase from Preferred Bank’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a yield of 3.61%. Preferred Bank’s dividend payout ratio (DPR) is 31.15%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Stephens reissued an “equal weight” rating and set a $100.00 price target on shares of Preferred Bank in a research note on Thursday, January 30th. DA Davidson raised their price target on Preferred Bank from $98.00 to $101.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Finally, Piper Sandler lifted their price target on Preferred Bank from $101.00 to $111.00 and gave the company an “overweight” rating in a research note on Friday, January 31st.

Preferred Bank Company Profile

Preferred Bank provides various commercial banking products and services to small and mid-sized businesses and their owners, entrepreneurs, real estate developers and investors, professionals, and high net worth individuals. The company accepts checking, savings, and money market deposit accounts; fixed-rate and fixed maturity retail, and non-retail certificates of deposit; and individual retirement accounts.